Critical Metals Corp. has detailed a mine-to-metals strategy for its Tanbreez Rare Earth Project in Greenland, supported by metallurgical test results demonstrating over 99% dissolution of eudialyte concentrate into 19 rare earth products.

The proposed joint-venture refinery in Romania is designed to process up to 100,000 tons per year of eudialyte concentrate feed. Economic modeling for the facility projects approximately US$2.2 billion in annual revenue before operating costs, taxes, and capital recovery, alongside an NPV10 of about US$4.5 billion, an IRR of roughly 55%, and a two-year payback period. The preliminary capital expenditure estimate stands at US$1.85 billion on a Class 4 basis.

The process flowsheet incorporates multistage mixed-acid reactors to prevent silica gel formation, complete silica recovery to produce high-purity SiO2 powder, and vacuum freeze-drying of chloride salts to yield ultra-low-moisture powders. The silicate recovery system is projected to contribute US$400 million to US$600 million annually in combined value from silica revenue and avoided acid costs while reducing tailings to less than 1.5% of feed material.

Critical Metals increased its ownership interest in Tanbreez to 92.5% following approval from the Government of Greenland in April 2026. The current refinery study expands upon March 2026 test work, which reported a refined concentrate grade of 2.96% TREO and HREO.

“This represents a significant evolution in the Tanbreez value proposition and reinforces our commitment to a true mine-to-metals strategy. By combining Tanbreez’s exceptional eudialyte resource with advanced processing in Romania, we have the potential to capture substantially more value from every ton of material while producing the high-purity rare earths and critical metals that Western markets increasingly require.”

“Importantly, our proposed process is designed to recover valuable by-products such as high-purity silica rather than treating them as waste, potentially improving both the economic and environmental profile of the operation. We believe this integrated approach has the potential to establish Critical Metals Corp. as an important non-Chinese supplier of critical materials to the European and U.S. markets, with Tanbreez providing the resource foundation and the proposed Romanian refinery delivering the downstream value.”

— Tony Sage, Executive Chairman and CEO of Critical Metals Corp.

Production projections for high-purity hafnium products and other operational targets remain subject to further engineering, metallurgical test work, market conditions, permitting, and final investment decisions.

Read the full announcement: Critical Metals Corp (Nasdaq: CRML) Achieves Breakthrough Tanbreez Heavy Rare Earth Results: >99% Dissolution of Eudialyte Concentrate Into 19 Ultra-High-Purity Rare Earth Products; Refinery Study Projects US$1.8–2.2b in Annual Refinery Revenue